Mike has announced there will be 800 layoffs. Does not say where though..
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Having worked for C.A. for 14 years in various jobs. From 1990 until 2004. I can tell you that they will work you to the bone and then fire you. It has always been that way. Get out before they show you the door.
The company has been transparent with Islandia and said repeatedly, in writing, that CA will maintain a presence on Long Island. The lease expires in 4 years. Of all the things going on, I wouldn't be worried about Islandia closing. I know from someone in authority that there will be a CA office on Long Island for G&A and a few other functions and the space will accomodate a large percentage of the current employees.
Even if Islandia is closed, do we really think there will NOT be Long Island presence in 2021 and beyond? NY is still considered a main hub and I can't see just Boston having only an east coast presence. Islandia out of all of the hubs outperforms its peers in the United States, doesn't make sense.
What I have been hearing is that Islandia will be closed prior to the lease ending.
Unreal. Shifting massive and complex products to SaaS. Their existing customers expect a certain feature-set and are instead being force-fed a cloud-based solution offering 1/10th of the required and expected functionality.
CA's plan: keep much of the same executive and management layers which lead to the current state, while replacing the underlings with newcomers making a pittance for salary.
RIP Islandia
Any bets things wont stop at 800 either? CA just performed one of their silent layoffs last fall. Any announced layoff CA has performed in modern times was ALWAYS adjusted upward mid way. Watch for sneaky Friday night SEC filings. That is the 800 could be complete by September. So just before the holiday weekend Friday night the FY19 plan will be increased by another few hundred. Good luck everyone
I see Mike is putting the tax cut to good use.
Worst company ever. One would think that 2 years of revenue growth would lead to job growth, not reduction, but nooooooo
"Elster leaving is not a good sign."
Why?? Based on the email it looks like he was asked to leave. For several Q's there have been sales mishaps. CEO has no choice, but to find someone that wont drop the ball.
Anyone have ideas what offices will be closed by this move?? up to 90-100 million in sev payments and 140-160 in total cost. Which includes facilities exits
90-100 m to fire 800 people or 112k-125k per person. What if I want to be fired?
Elster leaving is great news! Fat cat field sellers are expensive and mostly inefficient. It’s a new day!
Elster notice was constructed politely by saying he is leaving, but he was probably fired
Probably salesForce and underperforming engineering teams. Aka products that CA screwwed up and can't sell anymore. as company moves to saas digital sales model workforce will be gradually trimmed. Apparently a t2 initiative is in play to cut across the board. Elster leaving is not a good sign.